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Hosting buddypress CMS on AWS EC2

I was wondering of using AWS EC2 for hosting buddypress CMS (wordpress MU network) on Amazon EC2.
I've seen this Elastic Server Factory for building apps for the cloud,maybe use it to create web server for it.http://elasticserver.com/

1. Has anybody hosted wordpress MU or a website on AWS EC2?
2. What's the host cost of it?
3. What are the pros or cons using AWS?